Last checked at 26 Nov 2009 07:00
PZ CUSSONS PLC
26 November 2009
Board Changes
Appointment of Richard Harvey as Chairman-elect
PZ Cussons plc ("PZ Cussons" or the "Company") is pleased to announce that Richard Harvey is to be appointed as a Non-executive Director of the Company and as Chairman-elect.
Mr Harvey, formerly the Group Chief Executive Officer of Aviva plc, will join the Board as Non-executive Director on 1 January 2010 and will take up the position of Non-executive Chairman with effect from 1 July 2010.
Anthony Green, who was appointed to the Board in 1990 and has served as Executive Chairman since 1993, will retire from the Board on 1 July 2010.
With effect from 1 January 2010, Mr Harvey will be appointed as a member of the Company's Nomination Committee and Corporate Social Responsibility Committee.
Mr Harvey became Group Chief Executive Officer of Norwich Union plc in 1998 and subsequently Group Chief Executive of Aviva plc, initially branded CGNU, after the merger of Norwich Union with CGU. He initiated the re-branding of CGNU and its portfolio companies under the Aviva name. He has worked extensively overseas in both mature and emerging markets and was Chair of the Association of British Insurers from 2003 - 2005.
Since retiring from Aviva plc in 2007, Mr Harvey has spent time in Africa supporting charitable initiatives to improve the daily lives of people in some of the world's poorest communities working with the development charity, Concern Universal. He has also worked on other projects to accelerate business development in Africa, including work for the Africa Progress Panel and the World Bank.
The Company also announces that Graham Calder, Deputy Chairman, will retire from the Board on 31 March 2010. Mr Calder joined the Board as Group Finance Director in 1998 and became Deputy Chairman in 2006.
Anthony Green, Chairman of PZ Cussons, said:
"The Board is delighted to announce Richard Harvey's appointment. Richard was one of the longest-serving Chief Executives in the FTSE100 and he brings to the Board a wealth of experience and a proven track record in achieving profitable growth. He also has a deep personal interest in Africa, our largest market.
I very much look forward to working with Richard in the period of transition leading up to my retirement."
Richard Harvey said:
"I am delighted to be joining the Board of PZ Cussons. I am looking forward to working with my new colleagues on the Board and to helping to lead the Company into what is clearly an exciting future."
Derek Lewis, Senior Independent Director of PZ Cussons, said:
"The Board wishes to express its thanks to both Anthony Green and Graham Calder for the enormous contribution which each has made to PZ Cussons over many years and which they will continue over the coming months. The business is in excellent shape and, in Richard Harvey, we have found an outstanding candidate to take over from Anthony as Chairman."
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Notes: Richard Harvey has within the previous five years been a Director of Aviva plc. There is no other information which is required to be disclosed by paragraph 9.6.13 of the Listing Rules.
For further information please contact:
PZ Cussons Plc Tel: 0161 491 8000
Brandon Leigh, Group Finance Director
Hogarth Partnership Limited: Tel: 020 7357 9477
John Olsen / Sarah MacLeod